- ES Is trying to stay above the 200 hour moving average.
- Price if dips below the moving average and the trend line we may see a correction towards 1270 levels.
- 1296 level will act as the resistance on the way up.
- MSFT WEEKEND UPDATE
- APPLE WEEKEND UPDATE
HOUR CHART
- Nifty futures hour chart has stopped at an important support line.
- If this line holds we may see an up move.
- Breaking this line will favor bears.
DAILY CHART
- Weekly chart of TATA Motors shows price converging between support and resistance lines. Weekly chart may give good direction soon.
- Daily chart is showing a bullish consolidation pattern. But for this one to work in favor of bulls they need to hold on to the 200 DMA. Slip and close below 200 DMA will favor bears.
- INFOSYS CHART ANALYSIS
- First chart is the daily chart of apple. which shows price below 50 day moving average. If 20 day moving average and 50 day moving average gives a bearish cross we may see bears extending their gains.
- The second chart is apple weekly chart with 20 week moving average. Price does not spend too much time below 20 week moving average.
- Last chart shows trend line in weekly chart which can help the bulls.
- MSFT WEEKEND UPDATE
- INFOSYS may breakdown from a head and shoulders pattern in weekly chart.
- Confirmation can be seen when the stock violates 50 week moving average.
- Weekly chart is showing a bearish trend line break.
- Daily chart is also trending down below the 200 day moving average.
- Price in daily chart is moving down in a narrow channel.
- RSI and price movement is showing some divergence, But things will favor bulls only if price confirms an oversold bounce by closing higher.
- BIDU TRIANGLE PATTERN
- Bidu has a triangle pattern in daily chart.
- Price is trading above 50 day moving average.
- So a break in favor of bulls would be an easy long to take.
- For bears Bigger gains can happen only if 50 dma gets broken along with the triangles support line.
- ES HOUR CHART ANALYSIS
